Laurie Hough
About Laurie Hough
Laurie Hough, 55, is Executive Vice President, Chief Financial Officer and Treasurer of Champion Homes (NYSE: SKY). She has served as CFO since June 1, 2018, after prior finance leadership roles at Champion Holdings/Champion Home Builders and earlier positions at Chrysler Group LLC and PwC; she is a licensed CPA with a B.S. in Accounting from Oakland University . Company performance during her tenure shows revenue of $2.6B in FY2023, $2.0B in FY2024, and $2.48B in FY2025 alongside net income of $402M, $147M, and $198M respectively; cumulative TSR since FY2021 reached 604 vs 332 for peers by FY2025 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Champion Homes, Inc. | EVP, CFO & Treasurer | Jun 1, 2018 – present | Oversight of finance through multiple cycles, acquisitions, and buildout of retail/finance platform |
| Champion Holdings / CHB | EVP & CFO | Oct 2016 – Jun 1, 2018 | Led private company finance pre-merger and through transition |
| Champion Holdings / CHB | VP & Controller | Jul 2013 – Oct 2016 | Strengthened financial controls and reporting |
| Champion Holdings / CHB | VP, Accounting & Financial Reporting | Oct 2010 – Jul 2013 | Built reporting processes and systems |
| Chrysler Group LLC | Various finance roles | Not disclosed | OEM finance experience |
| PwC | Audit roles | Not disclosed | Assurance and technical accounting foundation |
External Roles
No public company directorships or external committee roles disclosed for Hough .
Fixed Compensation
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Base Salary ($) | 480,769 | 500,000 | 537,500 |
| Target Bonus (%) | 125% | 125% | 125% |
| Actual Annual Bonus ($) | 955,625 | — (0% payout) | 775,875 |
| Stock Awards – Grant Date Fair Value ($) | 1,988,455 | 1,638,404 | 1,497,685 |
Performance Compensation
Annual Incentive Plan (Corporate)
| Year | Metrics & Weighting | Target | Actual | Payout scale | Overall payout |
|---|---|---|---|---|---|
| FY 2023 | EPS 50% / Revenue 50% | EPS $4.84; Rev $2,592M | EPS $7.00; Rev $2,607M | 50%-200% per factor | 152.9% |
| FY 2024 | EPS 50% / Revenue 50% | EPS $3.81; Rev $2,100M | EPS $2.53; Rev $2,025M (Reg. Homes excluded for payout) | 50%-200% per factor | 0% payout |
| FY 2025 | EPS 50% / Revenue 50% | EPS $3.40; Rev $2,447M | EPS $3.56; Rev $2,483M | 50%-200% per factor | 115.5% |
Long-Term Incentives (PSUs/RSUs)
| Year | Grant date | RSUs (#) | PSUs target (#) | PSU metrics/weights | Vesting terms |
|---|---|---|---|---|---|
| FY 2023 | Mar 20, 2023 | 8,177 | 13,113 (thr 6,557; max 26,226) | rTSR 60%; SFHC Market Share 40% | RSUs: 1/3 each year; PSUs: 3-year cliff |
| FY 2024 | Mar 29, 2024 | 8,659 | 8,659 (thr 4,330; max 17,318) | rTSR 60%; SFHC Market Share 40% | RSUs: 1/3 each year; PSUs: 3-year cliff |
| FY 2025 | Mar 25, 2025 | 6,779 | 6,779 (thr 3,390; max 13,558) | rTSR 60%; SFHC Market Share 40% | RSUs: 1/3 each year; PSUs: 3-year cliff |
Change-in-control: PSUs vest at ≥100% or as measured pre-closing; RSUs granted before Aug 1, 2024 vest on CoC; RSUs granted on/after Aug 1, 2024 require a qualifying termination within 12 months (double trigger) .
Stock vested: In FY2025, Hough vested 15,930 shares worth $1,470,797 ; FY2024: 19,863 shares vested worth $1,438,001 ; FY2023: 23,621 shares vested worth $1,217,146 .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership | 127,714 shares (aggregate; <1% of outstanding) as of June 2, 2025 |
| Options held | 13,125 @ $15.00; 32,785 @ $32.11; 16,192 @ $31.21 (all listed as exercisable at 3/29/25) |
| Unvested RSUs | 16,923 shares; market value $1,592,116 (at $94.08 on 3/28/25) |
| Unvested PSUs (target) | 28,551 units; market value $2,686,078 (at $94.08 on 3/28/25) |
| Ownership guidelines | CFO must hold ≥1.5× salary; all Section 16 officers were in compliance as of Mar 29, 2025 |
| Hedging/pledging policy | Pledging prohibited; hedging allowed only in approved windows with pre-clearance |
| Shares pledged | None disclosed |
Potential selling pressure: RSUs granted (e.g., 6,779 on 3/25/25) vest in equal tranches on the first three anniversaries, creating periodic delivery events; PSUs are cliff-vesting at the end of 3-year cycles, which can result in concentrated vesting/settlement windows .
Employment Terms
| Provision | Terms |
|---|---|
| Employment agreement | Originally entered June 4, 2018; provides salary, bonus opportunity, equity grants, benefits, reimbursements |
| Severance – without cause or for good reason | 12 months base salary; payment of any earned-but-unpaid prior-year bonus; 12 months benefits subsidy (if applicable); accelerated vesting of the next 1/3 RSUs; specified % of PSUs may remain eligible to vest during one year post-termination (if vesting occurs) |
| Non-compete / Non-solicit | 18 months for executives with employment agreements |
| Change-in-control | PSUs vest at ≥100% or performance to date on CoC; RSUs follow single-trigger for grants before 8/1/24 and double-trigger thereafter |
| Clawback | SEC-aligned recoupment of performance-based compensation over 3-year lookback upon restatement; committee discretion for impracticability |
| Tax gross-ups | None provided in employment agreements |
Company Performance (context for pay-for-performance)
| Metric | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Revenue ($USD) | $2,606,560,000* | $2,024,823,000* | $2,483,448,000* |
| Net Income ($USD) | $401,802,000* | $146,696,000* | $198,413,000* |
| EBITDA ($USD) | $545,011,000* | $210,115,000* | $287,562,000* |
| EBITDA Margin (%) | 20.91%* | 10.38%* | 11.58%* |
Values retrieved from S&P Global.*
Compensation Structure Analysis
- Mix and variability: Hough’s fixed/variable mix in FY2025 was 20% fixed / 80% variable, with 69% of variable tied to long-term equity, reinforcing multi-year alignment .
- Metric design: Annual bonus linked to EPS and Revenue (balanced 50/50), with rigorous payout scales; PSUs align directly to shareholder value via rTSR and strategic market share in single-family completions .
- Policy discipline: Clawback strengthened in 2023; stock ownership guidelines enforced; insider trading policy prohibits pledging and restricts hedging—collectively supporting alignment and risk control .
Say-on-Pay & Peer Benchmarking
| Year | Say-on-Pay approval |
|---|---|
| 2021 | 96.9% |
| 2023 | 90.6% |
| 2024 | 94.5% |
Compensation peer group spans homebuilding, building products, RV and industrial names; peers reviewed annually with consultant (LB&Co then WTW) and remained appropriate in FY2025 (e.g., Cavco Industries, LGI Homes, Winnebago, Installed Building Products, etc.) .
Investment Implications
- Alignment: High proportion of long-term equity (PSUs/RSUs) and compliance with ownership guidelines indicate strong pay-for-performance alignment for the CFO .
- Retention risk: RSUs granted after Aug 1, 2024 require double-trigger vesting upon change-in-control, increasing retention/transaction discipline; non-compete/non-solicit periods are robust at 18 months, reducing near-term departure risk .
- Trading signals: Upcoming scheduled RSU vesting and PSU cliffs (e.g., FY2025 RSUs and PSUs from FY2024/FY2025 grants) can create periodic supply; FY2025 showed significant vesting activity (15,930 shares), which investors may factor into float/insider supply dynamics around vest dates .
- Performance linkage: Annual bonus outcomes have tracked fundamentals (0% in FY2024 amid weaker results; >100% in FY2023/FY2025 on strong EPS/revenue achievement), reinforcing responsive variable pay .
Sources: Company DEF 14A and 8-K filings as cited above.